Prime Oceanview Development Opportunity — 1441 Montrose Avenue, Nanaimo
An exceptional opportunity awaits with this lavish 14,000 sq ft oceanview lot, ideally positioned in the highly sought-after Departure Bay community of Nanaimo. Boasting sweeping views of the water and a premier location, this property is now designated under COR1 zoning, aligning perfectly with Nanaimo’s Official Community Plan to support higher-density residential development.
Just moments from the Nanaimo Golf Club, Brooks Landing Mall, and the picturesque Departure Bay Beach, this site offers unparalleled access to recreation, shopping, and essential amenities. Currently improved with a legal duplex generating steady rental income from two spacious 2-bedroom suites, the property presents both an excellent holding asset and a prime redevelopment prospect.
Preliminary indications suggest the potential to accommodate 20–22 residential units, making it ideal for a multi-family building or modern townhome development. This is a rare chance to secure a high-density parcel in one of Nanaimo’s most desirable and rapidly evolving neighbourhoods.
Seize this opportunity to enter or expand within the thriving Nanaimo market. Contact us today to discover the full potential of this outstanding development site.
Buyer to conduct their own due diligence to verify desired density, zoning regulations, and development requirements with the City of Nanaimo.
Address
1441/1445 Montrose Ave
List Price
$1,099,000
Property Type
Residential
Type of Dwelling
Full Duplex
Area
Nanaimo
Sub-Area
Na Departure Bay
Bedrooms
4
Bathrooms
2
Floor Area
1,689 Sq. Ft.
Lot Size
14000 Sq. Ft.
Lot Size (Acres)
0.32 Ac.
Year Built
1956
MLS® Number
1000857
Listing Brokerage
Sutton Group-West Coast Realty (Nan)
Basement Area
Crawl Space
Postal Code
V9T 5N2
Tax Amount
$4,773.00
Tax Year
2024
Features
Electric, Forced Air, Mixed
Amenities
Balcony/Deck, Central Location, Landscaped, Near Golf Course